Valley Forge Capital Management reported a 28.3% reduction in its significant Mastercard position, selling around 420,000 shares during the second quarter of 2026. The sale lowered the holding's weight in the firm's concentrated portfolio from over 22% to approximately 17.6%, though it remains one of its largest investments. The firm has historically been a vocal supporter of the payments giant.
This trade information comes from a delayed quarterly disclosure filed with the SEC on August 14, reflecting a position held on June 30. During the second quarter, Mastercard posted strong financial results, with revenues jumping 14% on the back of resilient cross-border transaction growth.